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Paytm Touches Upper Circuit In Fourth Straight Session; Shares Near INR 400 Mark

Inc42 · 1y ago

Paytm Touches Upper Circuit In Fourth Straight Session; Shares Near INR 400 Mark

Paytm shares have seen a positive turnaround after a sharp decline due to the Reserve Bank of India's (RBI) crackdown on Paytm Payments Bank. RBI extended the deadline on the bank's business restrictions, and Paytm announced shifting its nodal account to Axis Bank, providing some optimism. Paytm shares gained 21.5% since Friday, and several brokerages view the regulatory actions as restricted to the Paytm Payments Bank entity, expecting limited long-term impact on the overall business. However, there are concerns regarding potential declines in payment GMV and the impact on payment processing margin. The Enforcement Directorate's investigation into possible foreign exchange violations has not found any breaches so far.

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Why did Paytm shares hit 5% upper circuit today?

Inshorts · 1y ago

Why did Paytm shares hit 5% upper circuit today?

The shares of One97 Communications, the parent company of Paytm, hit 5% upper circuit on NSE on Monday. This comes after the fintech firm said that it has intensified its focus on insurance distribution to Paytm consumers and small merchants and SMEs. Paytm shares closed at ₹357.95 today against the previous close of ₹340.90 on the NSE.

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

Inc42 · 1y ago

Goldman Sachs Sees 40% Upside In MapmyIndia; Stock Hits 20% Upper Circuit

MapmyIndia received a price target of INR 2,800 from Goldman Sachs, indicating a potential upside of nearly 40%. The startup is expected to benefit from its strong position in various fast-growing markets such as automotive navigation, mapping devices, connected vehicles, telematics, and government digitization. As a result, MapmyIndia's shares were locked at the 20% upper circuit on the BSE and closed at INR 2,401.9.

Go Digit Shares Fall Nearly 6% Intraday

Inc42 · 7m ago

Go Digit Shares Fall Nearly 6% Intraday

Go Digit General Insurance shares slumped 5.7% on the BSE, reaching INR 313 per share. This marks the fourth consecutive session of decline for the company's shares. However, Go Digit saw a significant increase in profit after tax, with a 221% rise to INR 89.47 Cr in the second quarter of FY25, compared to INR 27.69 Cr a year ago.

Ola Electric shares extend listing-day gains; jump 20%

YourStory

YourStory · 11m ago

Ola Electric shares extend listing-day gains; jump 20%

Shares of Ola Electric Mobility Ltd, led by Bhavish Aggarwal, surged 20% on Monday, hitting the upper circuit limit and extending their listing-day rally. The company's market valuation also saw an increase of INR 8,040.94 crore, reaching INR 48,258.89 crore. Ola Electric's initial public offering (IPO) received 4.27 times subscription and had a price range of INR 72-76 per share. The company plans to use funds from the IPO for capacity expansion, research and development, debt repayment, and organic growth initiatives. Ola Electric manufactures electric vehicles and core components at its Ola Futurefactory.

Paytm Shares Jump Over 5% Amid Company Wide Restructuring

Inc42 · 1y ago

Paytm Shares Jump Over 5% Amid Company Wide Restructuring

Shares of fintech major Paytm closed the trading session at INR 402.65, up by 5.82% compared to the previous day. This increase follows reports of restructuring within the company. However, it's important to note that Paytm's current share price is still about 60% lower than its 52-week high of INR 998.3.

Touché: Ashneer Grover as Mamaearth shares surge 20%

Twitter · 1y ago

Touché: Ashneer Grover as Mamaearth shares surge 20%

BharatPe's former MD Ashneer Grover took to X to share a graph showing the surge of Mamaearth parent Honasa Consumer's shares and wrote, "Touché!" Honasa Consumer's shares surged 20% and hit the upper circuit at ₹423.75, as the company's Q2 profit nearly doubled to nearly ₹30 crore. In a now-deleted tweet, Ashneer claimed he applied for Mamaearth IPO.

Gainers & losers: Stocks and sectors that moved the most on October 7

Money Control

Money Control · 9m ago

Gainers & losers: Stocks and sectors that moved the most on October 7

1. Nifty 50 and Sensex ended in the red for the sixth consecutive session. 2. Natco Pharma's stock rose 3.4% after settling a US patent case over generic Ozempic products. 3. AU Small Finance Bank reported healthy loan and deposit growth, resulting in a 1.7% increase in its stock. 4. NBCC's stock jumped 3% on the ex-bonus trading day, following the announcement of a 1:2 bonus issue. 5. JP Morgan upgraded LTIMindtree to 'overweight', with a 13% upside potential. 6. Mphasis also received an upgrade from JP Morgan, with a target price indicating a 19% upside. 7. Reliance Power's stock continued to decline, hitting the lower circuit for the third consecutive session. 8. Suzlon Energy extended its losses for the eighth straight session following an advisory letter from stock exchanges. 9. Vodafone Idea's shares dropped 6% after the DoT issued a notice for non-payment of bank guarantees. 10. Kalyan Jewellers' stock fell around 1% as investors booked profits after strong Q2 business updates.

Paytm shares crash over 42% in 3 days; investors lose Rs 20,500 crore

Economic Times

Economic Times · 1y ago

Paytm shares crash over 42% in 3 days; investors lose Rs 20,500 crore

Shares of Paytm, the troubled fintech company, fell another 10% on Monday, reaching its lower circuit limit on the stock exchange. This comes as the regulatory crisis surrounding the company deepens, with fresh allegations of money laundering and an investigation by the Directorate of Enforcement (ED) emerging. Paytm has lost 42.4% of its value in the last three trading sessions, and stock exchanges have reduced the lower circuit limit to 10%. Paytm Payments Bank is also facing an existential crisis following a ban imposed by the Reserve Bank of India (RBI).

Ola Electric Teases Launch Of Electric Bike On August 15

Inc42 · 11m ago

Ola Electric Teases Launch Of Electric Bike On August 15

EV startup, Ola Electric, hinted at the launch of an electric bike during its annual event on August 15. In a video shared on social media, the company teased the rough sketch and silhouette of the upcoming ebike model. Recently, shares of Ola Electric listed on exchanges, and after a lukewarm start, jumped 20% to hit the upper circuit.

Paytm price band revised to 10% after investors lose ₹15,000 crore in 2 days

Money Control

Money Control · 1y ago

Paytm price band revised to 10% after investors lose ₹15,000 crore in 2 days

The daily limit on shares of Paytm operator One97 Communications has been revised to 10% from 20% on NSE and BSE. The change comes after the stock hit 20% lower circuit for the second consecutive day on Friday, wiping out ₹15,016 crore from investors' wealth in two days. Paytm stock was hit after RBI put curbs on Paytm Payments Bank.

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